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First East Side Savings Bank has competitive rates for checking accounts and certificates of deposit. The bank, based in Tamarac, Fla., has CD rates as high as 3.5% annual percentage yield (APY) for five years. It also has a checking account with a 3.51% APY.

Bank rates on First East Side Savings Bank’s Reward Checking are better than some money market and CD rates. To receive the 3.51% bank rate customers must use a debit card a minimum of 10 times per cycle for purchases, have one direct deposit or automatic debit each month, and receive statements electronically. Other details of the checking offer include:

No monthly or annual fees

Free online bill pay

Bank refunds up to $25 of fees paid to non-First East Side Savings Bank ATMs per cycle

The Customer Choice CD rates range from 1.65% APY for six months to 3.5% APY for five years. Interest on six-month CDs posts at maturity, while interest for other terms will be posted either quarterly or annually. The bank also has a special Internet only CD rate for a Customer Choice CD for one year (2.05% APY) and for two years (2.55% APY). Customer Choice CDs require a minimum opening balance of $5,000 and have early withdrawal penalties.

ING Direct has an online checking account with interest rates that can compete with some of the best savings rates. But not only are the bank rates worth looking at for the Electric Orange checking account, there are no maintenance fees no matter the size of your balance. Here are some of the details:

Doesn’t require a minimum balance to earn interest

Free MasterCard debit card and online bill pay

Free access to over 35,000 ATMs

No minimum deposit to open an account

Electronic statements each month there is activity on an account

Interest is calculated daily

The Electric Orange checking account has bank rates of 1.63% (1.65% annual percentage rate) for balances of $100,000 and up, 1.58% (1.6% APY) for $50,000 to $99,999, and 0.24% (0.25% APY) for up to $49,999. Those bank rates went into effect on March 21, but could change at any time.

You won’t receive paper checks to use with the Electric Orange account, but you’ll be able to make payments online and transfer money. You can also set up direct deposit for your paychecks. Customers are restricted to having only one Electric Orange Account.

If you’re strictly looking for good savings rates without checking, ING Direct also has an Orange Savings Account with a 1.4% APY (as of July 3).

Looking to grow your money over the long term? Acacia Federal Savings Bank has some of the best CD rates for five-year certificates of deposit. The five-year CD rate is 3.59% or 3.65% APY (annual percentage yield). Acacia Federal Savings Bank CDs also:

Have no fees to open or maintain an account

Require a $500 minimum opening deposit

Have penalty fees for early withdrawals

Have free wire transfers to and from the account

You can open a certificate of deposit online. In many cases, online accounts offer the best CD rates around compared to stopping by a bank branch. You can elect to roll over interest payments or have them sent to you on a monthly, quarterly, or semi-annual basis. Interest can also be compounded daily, which results in more savings. Keep in mind that any fees paid may reduce CD rates earned.

Money deposited in a certificate of deposit is FDIC-insured. Funds are insured for up to $250,000 per depositor through Dec. 31, 2013. That insured amount returns to $100,000 per depositor on Jan. 1, 2014.

Acacia Federal Savings Bank also has competitive CD rates for shorter terms. But if you don’t think you’ll need your money over the next few years, a five-year CD may be a good choice.

The best savings accounts often offer cash bonuses. Amboy Direct not only offers a $50 bonus for opening a savings account, but has some of the best savings rates. Amboy Direct’s eSavings account has a 1.51% annual percentage yield (APY). Other details of the offer include:

Minimum of $100 to open savings account

Funds can be transferred from non-Amboy Direct savings, checking, or money market accounts

Unlimited deposits and three free bank-to-bank withdrawals each month

No monthly balance minimums

To receive the $50 bonus you need a minimum monthly average balance of at least $3,000 for more than 90 days. Accounts with balances below $3,000 won’t receive the best savings rates, and no interest is paid for accounts that fall below $300. As of May 25, the APY for savings accounts with balances below $3,000 was 1%. But keep in mind that the APY can change on a daily basis.

Amboy Direct is a unit of Amboy Bank, which is based in Old Bridge, N.J. Amboy Direct savings accounts can be opened online or by mail. Contact customer service by phone if you need assistance filling out your savings account application.

Account statements are emailed to you each quarter, but you can view your account online at anytime. Amboy Direct savings accounts are FDIC-insured.

Money market accounts at AIG Bank offer some of the best money market rates out there. The more you save in AIG Bank money accounts, the more you earn. Money market rates, as of July 16, are:

1.76% annual percentage yield (APY) for deposits of $2,500 - $9,999

1.86% APY ($10,000 - $49,999)

1.91% APY ($50,000 - $99,999)

1.96% APY ($100,000 - $249,999)

2.06% APY ($250,000 or more)

Money market accounts can be opened online, by mail, or by phone. You need a minimum opening deposit of $2,500 and you are charged a minimum balance fee of $10 a month if your balance falls below that. The interest rate is also lowered. If the account balance falls below $1,000 no interest is earned. Other details of AIG Bank’s high yield money market accounts include:

FDIC insurance of at least $250,000 per depositor

Free incoming wires for fund transfers

Personalized checks

Visa check card

Some checks that are deposited in money market accounts may be available for withdrawal the next business day. Also, money market accounts have a limit of three third-party transactions during each monthly statement cycle. That includes checks, purchases with a Visa check card, or outgoing wire transfers that are not initiated at a bank branch. There is unlimited access through ATMs.

Bank rates
provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates

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Advertiser Disclosure: Many of the savings offers
appearing on this site are from advertisers from which this website receives compensation for being listed here.
This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.